AI and machine learning in the financial sector: Five focus points

Economic Memo - April 2022 - No. 3

Authors Martinello, Alessandro; Jensen, Thais Lærkholm; Grenestam, Erik; Meyer, Bjørn Bjørnsson
Subject Financial sector; Risk management; Statistical method; Financial stability
Type Economic Memo
Year 2022
Published 1 April 2022
Abstract icon Artificial intelligence (AI) can improve the resiliency of both individual financial institutions and the financial sector as a whole. Yet, its users must balance benefits and risks of these technologies. This paper illustrates five focus points which financial institutions should consider when moving from traditional models to complex AI systems.